Retailer Big Lots on Tuesday received a bankruptcy judge's approval for a last-minute sale that would allow 200 to 400 stores to remain open under new ownership.

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Big Lots, which had earlier said all of its stores would close, announced the transfer of between 200-400 stores to Variety ...

Under the transaction, Variety Wholesalers would acquire at least 200 stores and up to two distribution centers, saving jobs in the process.

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Variety Wholesalers, based in Henderson, N.C., plans to operate stores under the Big Lots brand, may continue to employ current Big Lots employees.

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After Big Lots began nationwide going-out-business sales earlier this month, the big box retailer has been given new life by a fellow retail company.

Because of a sale brought about by global asset and real estate consulting firm Gordon Brothers, between 200 and 400 Big Lots ...

Big Lots announced on December 19 that it was beginning 'going out of business' sales at all its 963 remaining locations ...